Product Code: RP-ID-10325423 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10325423
Market Overview:
Waste Heat Recovery System Market (By Application: Steam and Power Generation, Pre-Heating, and Other Applications; By End-User, By Geography) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 - 2024
As per the latest report published by Variant Market Research, Global Waste Heat Recovery System Market is estimated to reach $91.3 billion by 2024; growing at a CAGR of 8.8% from 2016 to 2024. Waste heat recovery systems are used for recycling heat from streams of high energy content produced in several refining procedures in industrial sectors such as petroleum, chemicals, paper and pulp, and automotive. Due to rapid Industrialization, waste heat recovery systems demand is expected to increase to overcome energy concerns for various industries. Key manufacturing companies are highly accepting these systems to reduce use of conventional energy and to produce internal electricity to decrease operating costs, this trend is projected to boost the global market growth.
Major factors driving the global waste heat recovery system market are growing energy and electricity cost, improved government initiatives and stringent rules, technological developments and growing investment, and rapid industrialization. However, lack of awareness, high cost of installation and initial investment may hamper the market growth. Furthermore, Emergent economies providing high demand of waste heat recovery system would unfold with numerous growth opportunities in the forecasted years.
Major segments of the global waste heat recovery system market are application, end-user, and geography. Application segment comprises steam and power generation, pre-heating, and other applications. Petroleum refining, chemical, cement, metal production and casting, natural gas compression, paper and pulp, and other end-users are the sub segments of end-user segment.
By geography, global waste heat recovery system market is categorized into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players operating in the market are Econotherm Limited., General Electric Co., ABB (ASEA Brown Boveri), Thermax Limited, Ormat Technologies Inc., Siemens AG, Mitsubishi Heavy Industries Ltd., Echogen Power Systems Inc., Cool Energy Inc., Amec Foster Wheeler Plc., among others.
The key takeaways from the report
The report will provide detailed analysis of Waste Heat Recovery System Market with respect to major segments such as application, and end-user
The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Waste Heat Recovery System Market has been included in the report
Profile of the key players in the Waste Heat Recovery System Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Waste Heat Recovery System Market
Application Segments
Steam and Power Generation
Pre-Heating
Other Applications
End-User Segments
Petroleum Refining
Chemical
Cement
Metal Production and Casting
Natural Gas Compression
Paper and Pulp
Other End-Users
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
0
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